Due to my marriage break up and ex losing his job, we could no longer pay into our iva. My mum and dad kindly offered to make a full and final offer, this was not for any where near the amount owing, but the iva company were quite positive due to our situation we had a good chance of it being approved. The meeting was last Monday. I was at work and had asked that i be e-mailed first with any news and i would then call back. I heard nothing till 5pm when i got an e-mail saying the f& f had been approved by the creditors and i just needed to send the payment and the case would be then sent to the closure team. Yesterday i got paper work through signed by the same person who had sent the e-mail. I couldnt believe it when i read the report it said the creditors had agreed to the variation but we had to continue to make voluntery contributions of £80 a month ( our income and exp showed we were minus £700)and the iva would be extended to 72 months !!and that this had been discussed with me , when in fact the only thing i had received was the mail saying all had been approved. I called straight away but being Saturday noone available. I have just spent a sleepless night worrying. My ex tried to kill himself when he lost his job , am so worried. I no noone can answer this post for me but just needed to get it all off my chest. No way can i pay the £80 , i have to borrow of family to pay mortgage as it is . Can i refuse this and say i cant pay it which they should know anyhow . Or is it now binding . Really confused as also the total amount showing as paid back was 15p in £ both before the proposed variation by the creditors and after , surely if i was to pay in £80 a month for another 2years the return would be more . It all makes no sense to me at all [:(!]
The proposal was that the creditors accept £2000 as a f and f settlement and as i say i got an email taht day saying fully approved just needed to pay the money. Have sent an email to GT to contact me asap with an explanation . Had been so happy that it looked like after 43 months in iva it was finally over, now feeling so depressed - just seems so cruel
Hi Tamzin --- as I said in the other post, I am sure Karol can advise. Try not to worry ( I know -- easier said than done) until you hear back what the full sp is.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
